7 Most Popular Home Loan Programs

A popular home loan for families that are eligible is the VA home loan for veterans and service members. When refinancing or buying a home take advantage of the lowest interest rate and monthly payment. No down payment is required when purchasing a home. Interest rates for VA home loans are typically lower than other loan options. We offer loan amounts up to $3,000,000. Up to 100% financing and no mortgage insurance required with a VA home loan. We thank you for your service in addition to your courage and it is an honor to serve in return.

First time home buyers the FHA home loan is perfect to use when buying a home. The Federal Housing Administration known as FHA requires only 3.5% down payment and the interest rate offered is usually lower than conventional financing options. Another advantage of the FHA home loan program is the flexible underwriting standards making it easier for home buyers to qualify for a home purchase when choosing this program.  County loan limits apply. 

The 30 year and the 15 year fixed rate home loan are maybe the most popular home loan options. The 30 year fixed is most commonly used when buying a home. After years go by it may make sense to refinance into a 15 year fixed rate home loan which typically offers a lower interest rate and will pay off the loan in 15 years rather than starting another 30 year fixed rate term.    

Use a home equity line of credit to pay off high interest rate credit cards, auto loans, and student loans. You also can keep the balance at zero with no monthly payment for future use. We provide the fastest online application to qualify in only five minutes. Get funds fast with no appraisal required and we lend up to $400,000 loan amount.

Investors enjoy the benefits of a 40 year fixed rate home loan option when buying an investment property or refinancing your investment property. We offer common sense lending and make it easy when you apply. The 40 year term spreads the payments out to keep monthly payments lower.  

Buy your home or refinance with popular home loan options with no income documentation required. To qualify you must have a minimum 640 FICO score and show adequate reserves. When you refinance we can use the cash out as reserves to qualify for your home loan.  

This popular home loan program is great for fix and flip projects or difficult to finance properties because of poor condition. Investors use this loan option for properties with fire damage, water damage, and cannot pass a lenders appraisal inspection. No credit score requirements and a streamline process at Ascend Mortgage we finance California properties only. These are short term duration home loans typically maximum five years with interest only options to keep the monthly payment low.  These loans are short term one to five years fixed and then are due in full.